Amgen (AMGN) Price Target Raised to $195 at Deutsche Bank to Reflect Blincyto Pricing

Deutsche Bank maintained a Buy rating on Amgen (NASDAQ: AMGN) and raised is price target to $195.00 (from $192.00). The change reflects Blincyto pricing of $178,000 per year, ahead of prior estimates.

"We are updating our model to reflect pricing color for Blincyto (blinatumomab). We had previously assumed a launch price of $140k/ yr in adults and $70k/yr in peds in the US (w/ ~4% biennial price increases beginning in in 2016). Our prior model also only assigned 50% probability of success, we have increased this to 100%. We see peak sales at $400M by 2019 WW. We have not adjusted our EU pricing assumptions. We see the first launch year as 2015," said analyst Robyn Karnauskas.

For an analyst ratings summary and ratings history on Amgen click here. For more ratings news on Amgen click here.

Shares of Amgen closed at $159.44 yesterday.

You May Also Be Interested In

• Stifel Upgrades Barry Callebaut AG (BARN:SW) (BYCBF) to Buy
• Buzzi Unicem SpA (BZU:IM) (BZZUY) PT Raised to EUR33 at JPMorgan
• Goldman Sachs Downgrades Alpha Bank AE (ALPHA:GA) (ALBKY) to Neutral